Collections Specialist Resume Samples

Description :

1. Managed a portfolio of delinquent accounts, identifying high-risk accounts and initiating appropriate collection actions to recover outstanding debts.
2. Communicated effectively with customers and sales teams to resolve account issues, ensuring a high level of customer satisfaction while maintaining company policies.
3. Analyzed credit reports and account histories to recommend adjustments to credit limits and collection strategies.
4. Documented all customer interactions and collection efforts in the accounts receivable system, ensuring compliance with company policies and legal regulations.
5. Developed and maintained strong relationships with customers, understanding their needs and providing tailored solutions to facilitate timely payments.
6. Collaborated with third-party collection agencies and legal representatives to escalate collection efforts when necessary.
7. Provided regular reports on account status and collection efforts to management, contributing to strategic decision-making.

Experience

5-7 Years

Level

Executive

Education

B.S. in BA

Description :

1. Managed a portfolio of delinquent accounts, performing administrative functions such as updating client information and maintaining accurate records.
2. Utilized various methods to locate and contact delinquent clients, including inquiries with credit bureaus and direct outreach.
3. Developed and communicated tailored repayment strategies to clients, ensuring understanding and compliance with payment terms.
4. Analyzed account histories to identify patterns and recommend improvements in collection processes.
5. Collaborated with legal teams to initiate collections proceedings when necessary, ensuring compliance with regulations.
6. Trained junior staff on best practices in collections and customer service, enhancing team performance.
7. Monitored and reported on collection metrics, adjusting strategies to meet recovery goals.

Experience

10+ Years

Level

Senior

Education

BS Finance

Description :

1. Develop and implement effective debt repayment plans tailored to customers' financial situations.
2. Engage with customers via phone and in-person to identify reasons for overdue payments and clarify terms of credit agreements.
3. Utilize automated systems to locate and monitor overdue accounts, ensuring timely follow-up.
4. Notify customers of delinquent accounts through various communication channels to solicit payment.
5. Coordinate with credit departments for account escalations, including merchandise repossession and legal actions when necessary.
6. Persuade customers to settle outstanding debts, including credit accounts and returned merchandise.
7. Maintain accurate records of customer financial statuses and collection efforts to inform future strategies.

Experience

5-7 Years

Level

Executive

Education

B.S. Finance

Description :

1. Managed debt recovery processes by establishing repayment schedules and obtaining updated customer information, ensuring accurate records of all interactions.
2. Consistently exceeded monthly collection goals for 12 consecutive months, making over 200 calls daily and receiving recognition for outstanding performance.
3. Collaborated with accounts receivable teams to streamline payment collection and resolve discrepancies efficiently.
4. Educated customers on account details, including interest rates, late fees, and payment options, fostering transparency and trust.
5. Conducted outbound collection calls, effectively negotiating payment arrangements and resolving customer disputes.
6. Maintained a 15% higher payment rate compared to industry standards through proactive engagement and follow-up.
7. Ensured compliance with federal and state regulations governing collections, including FDCPA, while keeping detailed records of all communications.

Experience

5-7 Years

Level

Executive

Education

B.S. Finance

Description :

1. Managed commercial collections by contacting clients via phone and email to secure payments on outstanding invoices.
2. Provided detailed account information and payment options to clients, enhancing their understanding of services rendered.
3. Processed incoming and outgoing calls efficiently, ensuring all customer interactions were logged accurately.
4. Documented customer transactions, inquiries, and complaints, maintaining comprehensive records for future reference.
5. Identified and resolved customer concerns promptly, escalating issues to management when necessary.
6. Facilitated payment collection through various methods, including credit card processing and electronic checks.
7. Collaborated with internal teams to address customer grievances and improve service delivery.

Experience

5-7 Years

Level

Executive

Education

B.S. in BA

Description :

1. Managed daily collections by making over 100 calls to clients, achieving a monthly collection goal of $9,630.
2. Conducted follow-ups on personal injury, workers' compensation, and insurance claims to ensure timely payments.
3. Collaborated with major insurance providers, including Blue Cross, Aetna, Cigna, and Humana, to resolve billing discrepancies.
4. Reviewed explanations of benefits and rectified issues to facilitate prompt payment.
5. Assisted patients in understanding their outstanding bills, including deductibles and co-insurance, to promote timely payments.
6. Analyzed claims to ensure compliance with contractual terms and conditions.
7. Negotiated settlements between clients and healthcare providers, achieving favorable outcomes for all parties involved.

Experience

2-5 Years

Level

Junior

Education

B.S. in BA

Description :

1. Managed a portfolio of over 100 accounts, performing regular follow-ups to ensure timely payments and resolve any discrepancies.
2. Communicated with clients via phone and email to negotiate payment plans and address concerns, enhancing customer satisfaction.
3. Analyzed account data to identify trends in payment delays and implemented strategies to mitigate future issues.
4. Collaborated with the accounting team to reconcile accounts and ensure accurate financial reporting.
5. Maintained detailed records of all communications and transactions in the company’s database, ensuring compliance with company policies.
6. Trained new team members on collections processes and best practices, fostering a collaborative work environment.
7. Utilized collection software to track account statuses and generate reports for management review.

Experience

0-2 Years

Level

Entry Level

Education

AAS Accounting

Description :

1. Managed account information discussions with clients via phone, email, and tickets, analyzing accounts for accuracy and initiating necessary adjustments.
2. Utilized Salesforce and PeopleSoft to enhance customer service and employed persuasive communication skills to resolve issues.
3. Provided financial information regarding payment responsibilities and assisted clients in arranging methods to liquidate past due balances, proactively researching contact details using collection tools.
4. Gathered information and prepared documentation for account referrals to collection agencies, effectively communicating payment needs to debtors.
5. Ensured accurate application of payments to accounts and made informed decisions regarding deviations from expected payment terms.
6. Maintained audit trails and responded to incoming correspondence, ensuring compliance with collection policies.
7. Reviewed and monitored assigned accounts and collection reports, resolving billing issues and reducing accounts receivable delinquency through excellent customer service.

Experience

7-10 Years

Level

Executive

Education

B.S. in BA

Description :

1. Maintained a 93% average current to 30-day balance by developing weekly work plans and utilizing Oracle AR collector aging tools to effectively manage customer accounts.
2. Employed advanced Excel functions, including VLOOKUPs and pivot tables, to streamline data analysis and enhance reporting accuracy.
3. Utilized strong communication skills to resolve complex payment issues with high-profile clients, ensuring timely payments and maintaining positive relationships.
4. Executed data analysis to manage credit holds, utilizing Oracle's credit check release function to secure payments efficiently.
5. Collaborated with management to address voluntary surrenders and total loss accounts, providing insights for strategic decision-making.
6. Developed new payment schedules for clients with overdue accounts, facilitating timely payments and reducing delinquency rates.
7. Analyzed collection reports and trends to identify areas for improvement, contributing to a 40% reduction in delinquency rates.

Experience

2-5 Years

Level

Junior

Education

BS Finance

Description :

1. Conducted daily collection calls and correspondence in a fast-paced, goal-oriented environment, providing exceptional customer service regarding collection issues and resolving discrepancies.
2. Monitored and maintained assigned accounts, including customer calls, account adjustments, and reconciliations, ensuring accurate records and timely payments.
3. Collaborated with sales and management to develop effective collection strategies, accelerating the collection process and improving cash flow.
4. Coordinated with account managers to create payment arrangements and follow up on outstanding balances, enhancing customer relationships.
5. Ensured timely delivery of invoices to clients, actively managing accounts to meet or exceed quarterly DSO targets and preparing accounts for third-party collections.
6. Communicated respectfully with clients via phone, email, and mail, successfully establishing repayment plans and maintaining positive relationships.
7. Responsible for calling clients with overdue payments, effectively negotiating payment terms and resolving issues to facilitate timely collections.

Experience

2-5 Years

Level

Junior

Education

B.S. Finance